1. Field of the Invention
This invention provides for a system of recording the transactions entering into the computation of a casinos table game revenue/win or loss at the time a players cash or IOU, also referred to as a marker, is inserted into a drop box at a gaming table. Specifically, the invention relates to a computer system and method for accounting for the flow of cash funds or credit from a player to the casino in exchange for the casinos gaming chips at the casino's gaming tables. The invention is suitable for or adaptable to 21 or blackjack, craps and other table games such as roulette.
2. Description of the Related Art
Currently casinos generally perform a count of the contents of all of the drop boxes of the entire casino at the end of the three eight-hour shifts that make up the casino's day for accounting purposes. The drop boxes would have been removed from their position fastened to the various gaming tables throughout the casino and transferred to a count room where the count would take place. The transactions occurring at the gaming tables between a player and the casino (other than the betting transactions) that ultimately determine a table game's win or loss are those involving the exchange of the casino's gaming chips and the player's cash or credit. These transactions are standard to the gaming industry and will generally be the same from casino to casino. The central issue to this invention is that currently all casinos determine table game revenue after the fact from the results of the count in the count room at the end of the casino's day for accounting purposes. The determination of gaming win or loss is the simple accounting inventory process of measuring or accounting for the assets on hand at each gaming table at the end of a period compared to those on hand as measured and accounted for at the beginning of that period. This process is described in the following paragraphs.
Beginning inventory: At the beginning of each shift each table's chips and coin are counted and recorded on a table inventory form. A copy of the inventory form is inserted in the drop box of the table.
Exchange of cash for chips: A player tenders cash in exchange for chips by placing the tendered cash on the gaming table. The dealer takes the cash, removes the equivalent amount of chips from the chip rack, slides them to the player, inserts the cash in the drop box and the player enters into the betting transactions of the game.
Exchange of credit for chips: A player with pre-established credit comes to a gaming table and asks for credit. After proper authorization a supervisory person prepares a pre-numbered marker form in at least triplicate form in the amount of credit requested. The three parts are (a) Original, (b) Issue copy, and (c) Payment copy. The marker form is signed by the player receiving the credit and the casino individual who approves the extension of credit.
The original and the payment copy are retained in the pit by the authorizing individual and the issue copy is signed or initialed by the dealer. The dealer then slides chips in an amount equivalent to the amount of credit entered on the marker to the player and inserts the issue copy in the drop box.
Repayment of credit at a table: When a marker is paid in full at a table, the payment copy will be annotated to include the nature of the payment (cash, chips, etc.), the amount of payment, and the table number at which the payment is received. It will be signed by the pit supervisor acknowledging the payment and the dealer receiving the payment. The dealer will then place the chips in the chip rack, if paid by chips, or insert the cash in the drop box if paid in cash. The dealer will then insert the payment copy in 30 the drop box.
When partial payments are made at a table, a new marker is completed reflecting the remaining balance and the marker number of the marker originally issued. After proper signing or initialing, the dealer inserts the issue copy of the partial payment marker in the drop box.
Transfer of chips from cashier's cage to a table: Transfers from the cashier's cage to a table (fills) are initiated by a pit supervisor through a request communicated to the cashier's cage. Fill slips are pre-numbered and are prepared in triplicate parts. One part is transferred to the table with the amount of chips requested. The chips are placed in the chip rack by the dealer. After verification by the dealer the fill slip is signed or initialed and inserted into the drop box.
Transfers of chips from a table to the cashier's cage: Generally an order for the transfer of chips from a table to the cashier's cage is initiated by a pit supervisor. The order is sent to the cashier's cage where a transfer slip (credit slip) is prepared in triplicate in the amount of the prospective transfer of chips from a table. One part of the credit slip is transported to the table. After verification of the amount the dealer removes the appropriate amount of chips from the table chip rack and they are transported to the cashier's cage by the appropriate casino person. After the credit slip has been signed of initiated, the dealer inserts it in the drop box.
Shift closing procedures: At the end of each shift each table's chips and coins are again counted and recorded on a table inventory form and inserted in the table's drop box.
Concurrently with the table inventory, all locked drop boxes are removed from the tables by an authorized individual and are replaced by empty drop boxes to be utilized for the next shift.
The removed drop boxes are transported directly to a count room or other secure place and locked in a secure manner until the count takes place.
Counting and recording procedures: At the end of the three shifts which comprise the casino's day for accounting purposes the contents of each drop box are counted and the results are entered on count sheets. The count sheets are then transferred to the accounting department where the day's win or loss is recorded in the casino's accounting records.
This process can be illustrated by a hypothetical win of $120,000 at typical table as determined by the counting and recording of the contents of the drop box at the end of the casino's day for accounting purposes. The count of the contents of the drop box reveals the following:
Assets on hand, end of shift:
Inventory of chips and coin, end of shift$20,000Cash per count$100,000Credit slips for transfers of chips to cashier$10,000Markers10,000Total assets included in count of drop box:$140,000
Assets on hand, beginning of shift (or added during shift):
Inventory of chips and coin$10,000Fill slips for transfers from the cashiers cage$5,000Markers repaid at the table$5,000Total assets, beginning of shift or added during shift:$20,000Win of table for the shift:$120,000
This hypothetical table win for a hypothetical shift illustrates that a casino's daily win or loss is determined by counting and tabulating the contents of each drop box of each gaming table. The current system is dependent entirely on the integrity of the count and the recordation of the contents of the drop boxes. No independent record of the table transactions is maintained in such a manner as to permit a predetermination of the results of the transactions at a gaming table. The current system depends entirely on the human element, i.e., the integrity of the workers conducting the transactions, and internal controls utilizing the people watching people concept. There is no automated, independent means or recording and monitoring table game transactions.
Therefore, a need exists to provide a more reliable and precise accounting system and method which is capable of providing real time information as to table game transactions, win/loss information and trends, and providing a predetermined accounting of the contents of each gaming table's drop boxes before the contents of the drop box is counted.